CandleFocus XRP Price Nears the $3 Mark – What’s Fueling the Mega Rally? Why is XRP Rising?
2024-12-02
Author: Content Editor
XRP, the third most valuable cryptocurrency, has reached its highest price in six years at $2.84. Experts predict that it could surpass its all-time high of $3.30. Factors contributing to XRP's rise include Donald Trump's presidential election victory, which has boosted sentiment in the crypto market, and Robinhood's decision to relist the coin. Whale activity on Coinbase, as well as South Korean retail investors, are driving XRP's rally. The imminent resignation of SEC Chairman Gary Gensler, known for his hostile stance toward cryptocurrencies, is seen as positive for Ripple and could lead to regulatory resolution for XRP. The decline in Bitcoin dominance alongside market expansion suggests the potential start of an "alt season," with altcoins like XRP gaining attention. XRP could potentially benefit from the success of Bitcoin and Ethereum ETFs, as several companies have filed applications for an XRP ETF with the SEC. Overall, market experts believe that XRP's regulatory path could become smoother with a pro-crypto SEC chairman appointed by Trump.
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